Operating revenue was the only segment to not see year-on-year growth during Q1 of the fiscal year ending March 2019.

Kabu, an online securities broker, has announced its first-quarter preliminary earnings for the fiscal year ending March 31, 2019. The firm, which is a subsidiary of the Mitsubishi UFJ Financial Group, showed a relatively strong first quarter, with operating revenue the only segment to show year-on-year declines.

According to the report, the operating results are expected to increase because primary expenses declined during the first quarter. This included expenses related to marketing, such as advertising and promotional costs including television commercials.

Revenue

The preliminary figures for the first quarter, which covers April, May, and June of this year, showed operating revenue was $52 million (5.8 billion yen). This is a slight decrease of 3.2 percent from $53.8 million (5.97 billion yen) from the first quarter of last year’s fiscal year.

Net revenue, on the other hand, increased year-on-year. For the year ending March 31, 2019, Q1 had net operating revenue of $44.5 million (4.9 billion yen). When compared to the first quarter of the last fiscal year, this is a jump of 4.2 percent from $42.7 million (4.7 billion yen).

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Income

Operating income for the first quarter of this fiscal year came in at $19.2 million (2.1 billion yen). This is an impressive growth of 78.9 percent when compared to the same period a year ago, which was $10.7 million (1.2 billion yen).

Ordinary income also saw a decent jump in growth of 80.2 percent year-on-year. For the first quarter of this year, ordinary income was $19 million (2.1 billion yen). This is compared to the previous fiscal year, which saw an ordinary income of $10.9 million (1.2 billion yen) in the first quarter.

Lastly, net income also saw an increase of 8.5 percent, coming in at $13.9 million (1.5 billion yen). In the first quarter of the fiscal year ending March 2018, net income was $12.8 million (1.4 billion yen).

The broker is set to report its settlement of accounts for the first quarter of the fiscal year ending March 2019 on Wednesday, July 25. The company also reminds the public, that the above results are preliminary and could change depending on changes in market conditions.